Eurcadshort
EURCAD, 2hr tf, head and shoulders pattern to materializedHello my friends,
Today trade ideas gonna be EURCAD pair.
This pair currenly moving sideways but if you look it closely, there is a shoulders head pattern forming right now.
Price also already broken below the neckline so i am gonna take a sell position with ichimoku confirmation.
1st confirmation is price below the kumo cloud
2nd confirmation is kumo cloud color are red
3rd confirmation parabolic SAR now above the price indicating sell pressure
Sell EURCAD 1.5600
Stop loss 1.5645
Take profit 1 @1.5555
Take profit 2 @1.5510
Take profit 3 @1.5465
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
EUR_CAD STRUCTURE ANALYSIS|
EUR_CAD IS TRADING IN A CHANNEL, FACES HORIZONTAL RESISTANCE.
(1) The pair modestly bullish, after breakout from downward channel
(2) Horizontal resistance seems to be well respected
(3) Good chance it might sink to retest channel support.
(4) IF breaks out higher-wait for confirmation.
(next upward resistance is R2 of a channel)
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EURCAD - BEARISH BIASEUR - BEARISH
1️⃣ The Eurozone consumer prices dropped 0.2% from a year earlier in August 2020, the first decline since May 2016.
CAD - BULLISH
1️⃣ WTI crude futures rebounded slightly to trade above $40 per barrel on Thursday, as investor focus shifted to an OPEC+ meeting later.
2️⃣ Expect positive retail sales tomorrow due to stronger labor data in July.
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TECHNICAL
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- We're shorting this pair on SBR level + SMA100 area on H1 chart.
- EURCAD in bearish zone.
Short Setup on Pullback-Ascending TL breakout, retest and continuation expected
-0.5 fib retracement
-Strong area of S&R
-MA50
EURCAD - SWING - 21. SEPT. 2020Welcome to our weekly trade setup ( EURCAD )!
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1 HOUR
Very bearish price action!
4 HOUR
Looking for further downside movement this week.
DAILY
Market looks like its turning bearish now..
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FOREX SWING
SELL EURCAD
ENTRY LEVEL @ 1.56050
SL @ 1.56500
TP @ 1.55430
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
EURCAD - Idea UpdatePlease view my related idea below to gain more insight to my thoughts on this pair. I would now say I am highly interested in a long position, I will be waiting for a significant pullback to get an ideal RRR trade.
EURCAD - Potential LongI am still not 100% sure if this pair has shown signs of a fake breakout, we will need to monitor the price on Monday and wait and see whether or not price wants to continue ot respect the ascending trend line or trade outside it again. Definitely one to keep on your watchlist, lots of potential for an upside move here.
COT Data - 72% Short
EUR/CAD Forming Cup and Handle Pattern.Currently, EUR/CAD is trading at 1.5586. The pair is trading above the channel resistance level, It can move below resistance level to start a new down trend in the channel. So, accordingly plotted entry levels and target price. If the price breaks resistance level at 1.5531 inside the channel, then the price will enter into the downward channel and start a new down trend. Then its target price will be the support level of channel at 1.5350.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat
EURCAD SHORTNice Rejection from the trendline as well as the daily resistance. EUR is trending low.
Enter the trade in two parts, move SL to entry once the first TP is reached.
Fx-TC Team
EURCAD expected to drop to 1.53 levelEURCAD expected to drop to 1.53 level
Today is Bank Of Canada Interest rate decisions (expected to be unchanged) which means the asset will become volatile in the next 2 4h candlesticks.
If it will drop because of the event, i want to already have a sell position before that time.
If then, the event causes it to rise, i want to be able to sell it again even at prices of 1.565 and 1.57
EURCAD Monetary Policy meetingAs I published early this week, tomorrow will be the Bank of Canada's meeting, the market doesn't wait a particular change, so the reaction of the pair EURCAD, will be affect by the stimulus and economy outlook.
Short EURCADAfter a nice bearish move, this pair has been in a descending channel for the past 3 weeks. It has recently made a lower high and I sense that it will break out to the downside in the next week or so, to resume the down trend.
I am looking for a lower high to form to take my short entry.
There is support coming up between 1.5180 and 1.5230 that I will target.
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As always, please use sound money and risk management in all your trades.
EURCAD SHORT PRICE ACTION FORECAST Price remains trading within a descending channel. Strong bearish bias continuation allows the setup os a short position to capture the downward movement.
Expecting the downtrend continuation after rejection from the EMA allows a sell stop entry to be placed.
The order:
Type: sell-stop
S/L: 44 pips - R:R | 1:3.4 -
T/P: previous resistance level
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